AUCTION TERMS AND CONDITIONS
386 S. Deepwood Dr., Radcliff, KY 40160
ABSOLUTE ESTATE AUCTION – REAL ESTATE & PERSONAL PROPERTY
Online Bidding Opens: December 26th at 10:00 AM
Online Bidding Ends: January 15th at 6:00 PM (Soft Close)
Personal Property Pickup: January 16th from 10:00 AM to 7:00 PM
PLEASE READ THESE TERMS CAREFULLY BEFORE BIDDING.
By registering to bid in this auction, all bidders acknowledge and accept the following terms and conditions and enter into a binding agreement by bidding.
1. Property Condition & Buyer Due Diligence
The real estate and all personal property are being sold AS-IS, WHERE-IS, with no contingencies for financing, appraisal, inspections, or repairs. The property requires renovation, and bidders should perform all inspections and due diligence prior to bidding. No warranties are expressed or implied by the seller or Lawson Co. Auctioneers, LLC.
2. Buyer’s Premium & Purchase Contract
A 10% Buyer’s Premium will be added to the final real estate bid to determine the total contract price.
Within 24 hours of the auction’s close, the winning real estate bidder will receive a Real Estate Purchase Agreement via email. The signed contract and a $5,000 non-refundable deposit must be submitted to Lawson Co. Auctioneers, LLC within 24 hours.
Failure to submit the required contract and deposit in the stated timeframe may result in the deposit being charged to the card on file and forfeiture of bidding privileges.
3. Closing Requirements
The remaining balance for the real estate purchase is due at closing on or before February 20th, 2026.
Buyer and seller shall pay their customary closing costs in accordance with Kentucky standards.
Possession is granted at closing.
4. Default & Liquidated Damages
Failure to return the signed purchase agreement and deposit within the required timeframe places the buyer in default.
Liquidated Damages Clause:
If the buyer fails to close for any reason caused by the purchaser or their representatives—including lenders—the buyer will forfeit the deposit and may be liable for additional losses incurred by the seller and Lawson Co. Auctioneers, LLC, including costs of resale. Lawson Co. Auctioneers may distribute the deposit in accordance with the listing agreement.
This clause does not prevent the seller from pursuing additional legal remedies, including specific performance.
5. Buyer Responsibility & Financing
There are no financing contingencies. Buyers must have funds or financing secured before bidding. All bids are final and binding.
6. Bidding Process & Auction Format
This is an Absolute Auction for both real estate and personal property.
The property sells to the highest bidder regardless of price.
A soft close/auto-extend feature is enabled. Any bid placed within the last 5 minutes extends bidding by 5 minutes until no additional bids are placed.
One Extend / All Extend” Soft Close – Definition (Personal Property Auction Terms)
This online auction features a soft close using a “One Extend / All Extend” closing format.
What “One Extend / All Extend” Means
If any bid is placed on any lot during the final closing minutes, then:
ALL lots in the auction will extend by the same amount of time
(to give every bidder a fair chance to continue bidding).
This process will repeat as long as bidding continues during the extension period.
Why We Use This Format
“One Extend / All Extend” prevents last-second sniping and ensures bidders have time to respond, even if they are actively bidding on multiple lots.
Important Notes
7. Auctioneer, Staff & Employee Bidding
Lawson Co. Auctioneers, LLC, including the auctioneer, staff, and employees, reserve the right to bid on this property and personal property.
8. Agency Disclosure
Lawson Co. Auctioneers, LLC represents the seller exclusively and does not represent the buyer.
9. Lawson Co. Auctioneers’ Involvement
The seller and buyer acknowledge that Lawson Co. Auctioneers, LLC is a party to this transaction and will be compensated as stated in the purchase agreement or listing agreement.
10. Legal & Title Information
The real estate is sold subject to all easements, restrictions, zoning regulations, and matters of public record.
Taxes will be prorated to the date of closing.
The deed will transfer free and clear of all liens.
11. Property Information Disclaimer
Information provided is believed to be accurate but is not guaranteed. Bidders must verify information independently. No warranties or guarantees are expressed or implied.
12. Bidder Verification
All bidders must register with valid identification. Lawson Co. Auctioneers may revoke bidding privileges at any time.
Bidders are responsible for actions conducted under their account.
13. Right to Modify Terms or Cancel Auction
Lawson Co. Auctioneers reserves the right to amend terms, remove bidders, or withdraw property if deemed in the seller’s best interest. Changes take effect immediately upon posting.
14. Technical Issues
In the event of platform or connectivity issues, Lawson Co. Auctioneers may pause, extend, or reopen bidding. We are not responsible for bidder device or internet malfunctions.
PERSONAL PROPERTY TERMS
Buyer’s Premium & Sales Tax
Credit Card Convenience Fee
Pickup Terms
All personal property must be picked up January 16th from 10:00 AM to 7:00 PM at 386 S. Deepwood Dr., Radcliff, KY.
Buyers must bring labor, tools, and appropriate transport.
Items not removed by the deadline will be considered abandoned and forfeited.
Final Note
By placing a bid in this auction, bidders acknowledge they have read and agree to all terms and conditions herein.
A winning bid constitutes a legally binding purchase agreement under these terms.
